Ethyl Acetate Market Analysis Including Growth, Trends And Forecast 2028

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he market growth can be attributed to a significant increase in the production of sustainable packaging products such as flexible packaging owing to rising environmental concerns, which is anticipated to propel the demand for solvent-based printing inks in the packaging industry over the f

Ethyl Acetate Industry Overview

The global ethyl acetate market size is expected to reach USD 8.3 billion by 2028, according to a new study by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.8% from 2021 to 2028. The market growth can be attributed to a significant increase in the production of sustainable packaging products such as flexible packaging owing to rising environmental concerns, which is anticipated to propel the demand for solvent-based printing inks in the packaging industry over the forecast period.

 

Ethyl Acetate Market Segmentation

Grand View Research has segmented the global ethyl acetate market on the basis of end-use, and region:


Based on the End-use Insights the market is segmented into Food Beverage, Pharmaceutical, Automotive, Artificial Leather, Packaging, and Others

  • The pharmaceutical application segment is another large segment in the market. The segment accounted for a revenue share of around 24.o% in 2020. Ethyl acetate is commonly used in the pharmaceutical industry owing to its low purity; it is also used for purifying and concentrating antibiotics. In the pharmaceutical industry, solvent extraction finds many applications due to its suitability for processing heat-sensitive products and inherent flexibility.
  • It is used for the auto refinishing process, which involves refurbishing and repairing automobiles and other transportation vehicles. Growing demand for used vehicles and continuous adoption of new technologies are some of the factors responsible for driving the growth of the automotive to refinish coating market which will directly propel the demand for ethyl acetate over the coming years.
  • It has a wide scope of application in the manufacturing process of artificial leather as the ethyl acetate solvent plays a vital role in the leather production process. The global market for artificial leather is expected to show significant growth over the forecast period owing to rising demand for cruelty-free leather products such as belts, wallets, bags, clothing, and others. Moreover, the rising demand for solvent-based printing inks in flexible packaging is estimated to propel the market demand over the forecast period.


Ethyl Acetate Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central South America
  • Middle East Africa

 
Key Companies Profile Market Share Insights

The market is moderately fragmented with a few players accounting for a large share of the market. 

Some of the prominent players in the ethyl acetate market include:

  • INEOS
  • Solvay
  • Eastman Chemical Company
  • Sipchem
  • Sasol Limited
  • Daicel Corporation

 

Order a free sample PDF of the Ethyl Acetate Market Intelligence Study, published by Grand View Research.

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